Business View Oceania - July 2024

OPENING L INES INFRASTRUCTURE SUSTAINABILITY COUNCIL RELEASES DIGITAL RATING TOOL Source- https://www.insideconstruction.com.au, Ashley Grogan, First Published June 17, 2024 The Infrastructure Sustainability Council (ISC) has introduced a new digital tool to help Australian and New Zealand infrastructure projects navigate sustainability changes and ensure their assets are sustainable. IS Essentials is a transformative addition to the ISC’s globally recognised IS Rating Scheme. This scheme consists of third-party assured rating tools that assess the social, cultural, environmental and economic performance of infrastructure assets throughout their life cycle. Specifically designed for smaller infrastructure projects valued between $5 million and $100 million, IS Essentials aligns with the UN Sustainable Development Goals. It aids government agencies, private asset owners and investors in measuring, improving and reporting on the social, cultural, environmental and economic performance of their projects. ISC acting CEO Patrick Hastings highlighted the significance of this tool in advancing the sector’s sustainability efforts, noting that 80 percent of infrastructure investment in Australia is directed towards projects valued under $100 million. “These tend to be projects that are closely tied to communities, such as energy generation, water treatment plants and road projects, which have the potential to deliver more for the communities they serve than just the basic utility of the asset,” said Hastings. “We want to support project and asset owners [to] recognise this, help them respond and excel in their delivery, noting IS Essentials will not only enable them to start on this journey more effectively, but accelerate it.” RELATED STORIES: • Sustainability takes centre stage at new Deer Park Station • Industry and government launch Infrastructure Net Zero initiative • Sustainability in the built environment Given the legislative requirements, the national and global adoption of carbon accounting standards and the increasing pressure on organisations to collect, record and report their sustainability efforts, the ISC aims to ensure that those delivering vital infrastructure projects receive the support they need to do so efficiently and effectively. “IS Essentials is designed to scale according to both the size of the asset and the ambition of the 7 BUSINESS VIEW OCEANIA VOLUME 06, ISSUE 07